Alley Co LLC lowered its stake in shares of WEC Energy Group Inc. (NYSE:WEC) by 1.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,454 shares of the company’s stock after selling 86 shares during the period. Alley Co LLC’s holdings in WEC Energy Group were worth $552,000 as of its most recent filing with the SEC.
Other hedge funds have also modified their holdings of the company. Benjamin F. Edwards & Company Inc. raised its position in WEC Energy Group by 1.3% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 6,515 shares of the company’s stock worth $425,000 after buying an additional 85 shares during the period. Chesley Taft & Associates LLC raised its position in WEC Energy Group by 2.1% in the second quarter. Chesley Taft & Associates LLC now owns 7,385 shares of the company’s stock worth $482,000 after buying an additional 150 shares during the period. Tokio Marine Asset Management Co. Ltd. raised its position in WEC Energy Group by 1.6% in the second quarter. Tokio Marine Asset Management Co. Ltd. now owns 10,465 shares of the company’s stock worth $683,000 after buying an additional 163 shares during the period. Cleararc Capital Inc. raised its position in WEC Energy Group by 1.0% in the first quarter. Cleararc Capital Inc. now owns 21,325 shares of the company’s stock worth $1,281,000 after buying an additional 221 shares during the period. Finally, Gradient Investments LLC raised its position in WEC Energy Group by 7.2% in the second quarter. Gradient Investments LLC now owns 4,193 shares of the company’s stock worth $274,000 after buying an additional 283 shares during the period. Institutional investors and hedge funds own 70.65% of the company’s stock.
Shares of WEC Energy Group Inc. (NYSE:WEC) traded down 0.76% during trading on Friday, hitting $57.74. 1,647,780 shares of the company’s stock were exchanged. WEC Energy Group Inc. has a 1-year low of $47.98 and a 1-year high of $66.10. The stock has a market cap of $18.22 billion, a PE ratio of 20.61 and a beta of 0.08. The stock’s 50-day moving average price is $59.89 and its 200-day moving average price is $60.99.
WEC Energy Group (NYSE:WEC) last issued its quarterly earnings data on Wednesday, July 27th. The company reported $0.57 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.56 by $0.01. The company had revenue of $1.60 billion for the quarter, compared to analyst estimates of $2.03 billion. WEC Energy Group had a net margin of 12.13% and a return on equity of 10.52%. The company’s revenue was up 61.7% on a year-over-year basis. During the same period in the prior year, the firm earned $0.58 earnings per share. On average, equities analysts expect that WEC Energy Group Inc. will post $2.93 earnings per share for the current fiscal year.
A number of research firms have commented on WEC. Zacks Investment Research lowered shares of WEC Energy Group from a “hold” rating to a “sell” rating in a research report on Friday, September 16th. Argus restated a “buy” rating and issued a $70.00 price target (up from $65.00) on shares of WEC Energy Group in a research report on Tuesday, August 2nd. Seven equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $58.25.
In other news, VP Susan H. Martin sold 40,000 shares of the stock in a transaction dated Monday, August 1st. The shares were sold at an average price of $65.05, for a total value of $2,602,000.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Robert M. Garvin sold 19,225 shares of the stock in a transaction dated Thursday, August 18th. The shares were sold at an average price of $61.62, for a total transaction of $1,184,644.50. Following the completion of the transaction, the executive vice president now directly owns 27,710 shares in the company, valued at $1,707,490.20. The disclosure for this sale can be found here. 0.81% of the stock is currently owned by insiders.
WEC Energy Group Company Profile
WEC Energy Group, Inc, formerly Wisconsin Energy Corporation, is a holding company, which has electric and natural gas utility operations. The Company’s segments are Wisconsin, Illinois, other states, electric transmission, We Power, and corporate and other. The Company’s Wisconsin segment includes the electric and natural gas utility, and non-utility operations of Wisconsin Electric Power Company (Wisconsin Electric), Wisconsin Gas LLC (Wisconsin Gas) and Wisconsin Public Service Corporation (WPS), including Wisconsin Electric’s electric and WPS’s electric and natural gas operations in the state of Michigan.
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